the storyteller’s views on revenue growth, profit margins, reinvestment, or risk, but that the storyteller’s views on these are internally inconsistent, that is, they are at war with one another. The simplest device that I have for finding these inconsistencies is what I call the iron triangle of value (shown in figure 7.8). Figure 7.8 The iron triangle of value. The three corners of the triangle—growth, risk, and reinvestment—are the drivers of the value of a business, as you will see in the next chapter. For each variable, the effects on value are predictable. As growth increases, value will
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